Blockchain loan transaction systems and methods

Abstract

A system and methods are described for utilizing smart contracts in a public blockchain to coordinate, document, and execute loan transactions. A contract deployed to the blockchain is accessible to borrowers to add a loan request to the public blockchain and to lenders who will evaluate the loan request and offer a loan. A loan agreement and repayment may also be deployed to the blockchain. A third party transfer agent may use the public blockchain to transfer non-digital or programmatically inaccessible assets as part of the loan agreement.

What is claimed is: 
     
         1 . A method performed by a computing system, the method comprising:
 deploying into a blockchain computer-executable program contract code of a loan contract specifying an asset to be transferred between a lender and a borrower, wherein said computer-executable program code further comprises one or more invokable methods;   under control of the contract code, deploying into the blockchain a loan request;   under control of the contract code, accessing the loan request and offering a loan; and   under control of the contract code, deploying into the blockchain a loan agreement specifying the terms of a loan between the lender and the borrower.   
     
     
         2 . The method of  claim 1 , wherein the asset is digital and the loan transaction is executed under control of the contract code. 
     
     
         3 . The method of  claim 1 , wherein the asset is tangible, further comprising:
 selecting a transfer agent;   executing the loan agreement; and   deploying into the blockchain loan repayment data.   
     
     
         4 . The method of  claim 1  wherein the one or more invokable methods further comprise a loan request method, a loan review method, a loan modify method and a loan accept method. 
     
     
         5 . The method of  claim 4 , wherein a loan request method further comprises:
 accepting at least one proposed loan term from the borrower; and   deploying into the blockchain the at least one proposed loan term as a loan request.   
     
     
         6 . The method of  claim 4  wherein a loan review method further comprises:
 reviewing a loan request; and 
 deploying into the blockchain an acceptance of the loan request. 
 
     
     
         7 . The method of  claim 4 , wherein the loan modify method further comprises:
 under control of the contract code, deploying into the blockchain a counter offer.   
     
     
         8 . The method of  claim 4 , wherein the loan accept method further comprises:
 deploying into the blockchain an agreement on the final terms of the loan contract.   
     
     
         9 . A computing system for executing a loan transaction, the computing system comprising:
 a processor for executing computer-executable instructions; and   a computer-readable storage medium containing computer-executable instructions that when executed by the processor control the computing system to:
 deploy into a blockchain computer-executable program contract code of a loan contract specifying an asset to be transferred between a lender and a borrower; 
 deploy into the blockchain a loan request; and 
 deploy into the blockchain a loan agreement specifying the terms of a loan. 
   
     
     
         10 . The computing system of  claim 9 , wherein the asset is digital and the loan transaction is executed under control of the contract code. 
     
     
         11 . The computing system of  claim 9  wherein the asset is tangible and the computer-readable storage medium containing computer-executable instructions that when executed by the processor control the computing system to:
 select a transfer agent; 
 execute the loan agreement; and 
 deploy into the blockchain loan repayment data. 
 
     
     
         12 . The computing system of  claim 9  wherein the one or more invokable methods further comprise a loan request method, a loan review method, a loan modify method and a loan accept method. 
     
     
         13 . A method performed by a computing system for executing a loan transaction, comprising:
 deploying into a public blockchain computer-executable program contract code of a loan contract specifying an asset to be transferred between a lender and a borrower, wherein said computer-executable program code further comprises one or more invokable methods;   under control of the contract code, providing access to an invokable loan request method for requesting a loan to a borrower;   under control of the loan request method, deploying into the public blockchain a loan request further comprising at least one term of the loan;   under control of the contract code, providing access to an invokable loan review method for accessing the loan request to one or more lenders; and   under control of the contract code, providing access to an invokable loan accept method for accepting the loan request to one or more lenders and deploying a loan agreement to the public blockchain.   
     
     
         14 . The method of  claim 13 , wherein the loan request further comprises contact information for the borrower and a lender contacts the borrower directly. 
     
     
         15 . The method of  claim 13  wherein the asset is digital and the loan transaction is executed under control of the contract code. 
     
     
         16 . The method of  claim 13  wherein the asset is tangible, further comprising:
 selecting a transfer agent to execute the loan agreement and deploy into the public blockchain loan repayment data. 
 
     
     
         17 . The method of  claim 13 , wherein the loan agreement further comprises collateral for the loan. 
     
     
         18 . The method of  claim 17 , wherein the collateral further comprises a virtual gaming asset. 
     
     
         19 . The method of  claim 13  wherein the one or more invokable methods further comprise a loan modify method. 
     
     
         20 . The method of  claim 19 , wherein the loan modify method further comprises under control of the contract code, deploying into the blockchain a counter offer.